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Six Major Industries Benefiting from the Internet of Things

Six Major Industries Benefiting from the Internet of Things

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The Internet of Things, recently, has unveiled new gates of possibilities for businesses. There are lots of industries benefiting from this smart innovation. The use of IoT and connected devices has helped different industries to streamline their operational workflow and boost their production capability. Tomorrow’s world is going to be smart, and if companies are not conscious, they might lose a spectrum of opportunities. Today, we are going to look over few of the industries that are using IoT to boost their efficiency.

Manufacturing

The influence of the IoT in the manufacturing industry is massive. Today, more than 35% of global manufacturers have integrated the IoT in their workspace, 15% are planning to implement IoT within 2017 and 11% are planning to assimilate IoT into their equipment within few years.

Transportation

The transportation industry is capitalizing the use of IoT to the fullest. Today, automobile manufacturers use IoT for different purpose including maintenance, efficiency, and even customer data extraction. Amongst all, connected cars are the most popular vehicles in the automobile industry. Experts predict that there will over 220 million connected cars until 2020.

Insurance

It may sound unusual, but Insurance Industry is another major field constantly benefited by the Internet of Things. The use of the IoT has helped thousands of insurance companies to design better insurance packages. A recent survey conducted by SMA Research showed that more than 75% insurance companies are planning to move their steps towards IoT and connected devices.

Agriculture

IoT devices and agriculture, it is not a new topic. Farmers across the world use IoT sensors to evaluate soil moisture, determine the health of livestock, inventory management and more. Currently, the number of IoT devices used in agriculture sector accounts to 40 million, and it is expected to reach 75 million until 2020, at a 23% CAGR.

Healthcare

According to BI Intelligence, there will be more than 650 million healthcare IoT devices until 2020. IoT in conjunction with connected devices will make healthcare effective, accurate, and easily accessible. Connected healthcare devices will be able to collect data, automate processes, and notify the hospital about different health issues related to patients.

Defense

Flying drones and robots are doing a spectacular job for world safety. Today, drones are used in different regions to ensure the security of civilians. The actual investment on drones and robotic intelligence is expected to reach 8.3 billion until 2020.  As stated by experts, the number of robots in defense sector will reach 120 thousand.

Summary

The industries mentioned above are only a few examples. Tons of other industries will enjoy the fruits of IoT. The IoT is not just used to collect and analyze data. They can be utilized for multiple purposes and can enhance the workflow in every environment.